Mourant Ozannes has advised Vallar plc, a Jersey company, on its flotation on the Main Market of the London Stock Exchange.

Vallar, a special purpose acquisition company backed by prominent financier Nat Rothschild, raised more than £700m in an initial public offering (IPO), making it the second largest flotation on the London Stock Exchange so far this year. Full trading commenced on Wednesday, 14 July. The company intends to use the proceeds to acquire a single major business or significant operational asset in the global metals, mining and resources sector.

Jacqueline Richomme, the partner at Mourant Ozannes who led the legal team, commented:

‘We are delighted to have advised on what has become one of the most significant IPOs to come to market in London so far this year. The market conditions are very difficult at the moment, so for Vallar to receive such a positive response from investors in such conditions is very pleasing both for those involved and the London IPO market as a whole. The deal involved input from both our Jersey and Guernsey offices, demonstrating our capabilities in those jurisdictions.’

Other lawyers from Mourant Ozannes who worked on the Vallar flotation included partner James Hill, associate Paul Martin and Marcel Cariou, a senior associate in Mourant Ozannes' Guernsey office who advised on the Guernsey elements of the structure.

Mourant Ozannes advises more FTSE-100 and FTSE-250 Jersey and Guernsey companies than any other offshore law firm, according to the latest Hemscott rankings.